Home
About Us
Down Payment Assistance Loan for First Time Home Buyers in New York
by: TopGovernmentGrants Editorial StaffThe State of New York Mortgage Agency, more commonly referred to as SONYMA, is a public authority that was established in the year 1970 in an attempt to provide reasonable and affordable home-ownership opportunities to low and moderate income New Yorkers, especially to first time home buyers.
|
|
Since then, SONYMA has been successfully offering mortgage programs as well as mortgage credit certificates that will assist first time home buyers in the process of purchasing a house in the State of New York.
In line with this, The State of New York Mortgage Agency has been running the Down Payment Assistance Loan Program (DPAL) wherein it intends to help first time home buyers overcome the setbacks brought about by down payments and closing costs.
Admittedly, two of the major hurdles that an individual faces when buying a home are the down payment and closing costs. Down payments, as defined in the SONYMA glossary, is the "part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage."
(continued...)
Down Payment Assistance Loan for First Time Home Buyers in New York
Page 2
About The Author
The TopGovernmentGrants Editorial Staff maintains one the most comprehensive Websites offering information on government grants and federal government programs. The staff also provides resources to other Websites with information on health grants and environmental grants. |
Additional Resources
category - Home Buying Programs
Grants From the Department of Housing and Urban Development
She also maintains Websites providing resources on environmental grants and grants for youth programs.
Downpayment Assistance Program for First Time Homebuyers in Connecticut
Can You Use Government Grants to Become A Real Estate Entrepreneur?
Keystone Government Loan Program for Homebuyers in Pennsylvania
Follow @topgovtgrant
Social Entrepreneurship
Spotlight
Honest Tea: Living Somewhere in the Grey
“TEO” and co-founder of Honest Tea, Seth Goldman, talks about living in a shade of grey – businesses wouldn’t exist without its consumers. As he said, “There are current issues we deal with, and even if we solve one of those issues, we should be moving on to the next one. As long as we are a consumer-based economy, there’s no way around it. No way to totally lose that area of grey.”
